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Category > Accounting Posted 18 May 2017 My Price 6.00

During 2010 Minh Corporation had a net income of $144,000

During 2010, Minh Corporation had a net income of $144,000. Included on its income statement were depreciation expense of $16,000 and amortization expenses of $1,800. During the year, Accounts Receivable decreased by $8,200, inventories increased by $5,400, Prepaid Expenses decreased by $1,000, Account Payable decreased by $14,000, and Accrued Liabilities decreased by $1,700. Use the indirect method to determine net cash flows operating activities.

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Alpha Geek
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Status NEW Posted 18 May 2017 12:05 PM My Price 6.00

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file 1495111071-Answer.docx preview (95 words )
D-----------uri-----------ng -----------201-----------0, -----------Min-----------h C-----------orp-----------ora-----------tio-----------n h-----------ad -----------a n-----------et -----------inc-----------ome----------- of----------- $1-----------44,-----------000-----------. I-----------ncl-----------ude-----------d o-----------n i-----------ts -----------inc-----------ome----------- st-----------ate-----------men-----------t w-----------ere----------- de-----------pre-----------cia-----------tio-----------n e-----------xpe-----------nse----------- of----------- $1-----------6,0-----------00 -----------and----------- am-----------ort-----------iza-----------tio-----------n e-----------xpe-----------nse-----------s o-----------f $-----------1,8-----------00.----------- Du-----------rin-----------g t-----------he -----------yea-----------r, -----------Acc-----------oun-----------ts -----------Rec-----------eiv-----------abl-----------e d-----------ecr-----------eas-----------ed -----------by -----------$8,-----------200-----------, i-----------nve-----------nto-----------rie-----------s i-----------ncr-----------eas-----------ed -----------by -----------$5,-----------400-----------, P-----------rep-----------aid----------- Ex-----------pen-----------ses----------- de-----------cre-----------ase-----------d b-----------y $-----------1,0-----------00,----------- Ac-----------cou-----------nt -----------Pay-----------abl-----------e d-----------ecr-----------eas-----------ed -----------by -----------$14-----------,00-----------0, -----------and----------- Ac-----------cru-----------ed -----------Lia-----------bil-----------iti-----------es -----------dec-----------rea-----------sed----------- by----------- $1-----------,70-----------0. -----------Use----------- th-----------e i-----------ndi-----------rec-----------t m-----------eth-----------od -----------to -----------det-----------erm-----------ine----------- ne-----------t c-----------ash----------- fl-----------ows-----------
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